Kingswood Wealth Advisors LLC Has $3.65 Million Stake in Abbott Laboratories (NYSE:ABT)

Kingswood Wealth Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 161.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,682 shares of the healthcare product maker’s stock after purchasing an additional 17,074 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $3,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Three Seasons Wealth LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth about $1,428,000. Kelly Financial Services LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at approximately $216,000. Voleon Capital Management LP acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Abbott Laboratories by 5.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after buying an additional 57,499 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its position in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock opened at $132.18 on Wednesday. The company has a fifty day moving average price of $131.80 and a 200-day moving average price of $126.62. The company has a market capitalization of $229.97 billion, a P/E ratio of 17.14, a PEG ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. As a group, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Analyst Ratings Changes

Several equities analysts have recently commented on ABT shares. Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Royal Bank Of Canada boosted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Finally, Bank of America upped their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $142.61.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.